Governor Jeff Landry has signed an executive order that keeps a big property tax break in place for manufacturers, but it removes the job creation requirement that was added during the Edwards administration. Landry says the job creation requirement only created bureaucratic red tape.
“We want to streamline opportunity opportunity for businesses to continue to invest here in Louisiana and to come in Louisiana,” said Landry.
But the faith-based group, Together Louisiana, says the change to the state’s Industrial Tax Exemption Program is just a gift for corporations. They say local governments will lose millions in tax revenue for a tax break that will not lead to more jobs. But Landry says removing the job requirement is about capital investment.
“Anytime a business says okay I’m going to build a new facility, I’m going to expand on the refinery, those things are creating and retaining jobs,” said Landry.
Landry is keeping a change made by former Governor John Bel Edwards that businesses have to pay at least 20 percent of the taxes owed for the first ten years and then 100 percent after ten years. The current governor says the tax exemption only needs approval from one government entity in a parish, instead of multiple.
“Now they just go one stop and it’s a 45-day period, it’s an up and down vote, than it goes to the state ITEP board and onto building and creating more opportunities in Louisiana,” said Landry
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